🚨 The Green Metaverse Token (GMT), integral to the STEPN ecosystem, has recently undergone significant burning events aimed at reducing its circulating supply and enhancing its value.
Recent Burning Events:
600 Million GMT Burn Initiative: In November 2024, the GMT DAO launched a community-driven initiative to burn up to 600 million GMT tokens, equivalent to approximately $100 million. This event underscores the community's commitment to sustainable tokenomics and value appreciation.
Previous Buyback and Burn: In April 2022, the STEPN team initiated a buyback and burn program, purchasing GMT tokens worth about $1 million daily until approximately $26 million was expended. This strategic move aimed to reduce the token supply and support its value.
Impact on GMT:
These burning events are designed to decrease the total supply of GMT, potentially increasing its scarcity and value over time. By involving the community in governance decisions, such as the recent burn initiative, the GMT DAO fosters a sense of ownership and active participation among token holders.
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For the most current information on GMT's market performance and upcoming initiatives, consider visiting official channels and reputable cryptocurrency platforms.
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